LightWave Acquisition (NASDAQ:LWAC) Issues Earnings Results

LightWave Acquisition (NASDAQ:LWAC) issued its quarterly earnings data on Friday. The company reported $0.06 EPS for the quarter, FiscalAI reports.

LightWave Acquisition Stock Performance

NASDAQ LWAC remained flat at $10.18 during trading hours on Friday. 5,043 shares of the company were exchanged, compared to its average volume of 11,290. LightWave Acquisition has a 12-month low of $9.81 and a 12-month high of $10.20. The business’s fifty day moving average price is $10.17 and its 200-day moving average price is $10.10.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of LightWave Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. PenderFund Capital Management Ltd. acquired a new stake in shares of LightWave Acquisition during the 4th quarter worth about $102,000. Quarry LP acquired a new stake in shares of LightWave Acquisition during the 4th quarter worth about $246,000. ABC Arbitrage SA acquired a new stake in shares of LightWave Acquisition during the 4th quarter worth about $351,000. Gabelli Funds LLC acquired a new stake in shares of LightWave Acquisition during the 3rd quarter worth about $444,000. Finally, Heights Capital Management Inc. acquired a new stake in shares of LightWave Acquisition during the 4th quarter worth about $502,000.

About LightWave Acquisition

Locust Walk Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Boston, Massachusetts.